Integrated Annual Report for the Financial Year 2025-26

Ref.: Co.Secy./RKS/272/2026 July 31, 2026 BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400 001 Scrip Code: 500104 National Stock Exchange of India Limited Sub.: Integrated Annual Report for the Exchange Plaza, 5th Floor, Plot No. C/1, G-Block, Financial Year 2025-26 Bandra-Kurla Complex, Bandra East, Mumbai – 400 051 Scrip Name : HINDPETRO Dear Sirs, In compliance with provisions of Regulation 30 read with Part A of Schedule III, Regulation 34 (1) and 53 (2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we write to forward herewith the copy of Integrated Annual Report of the Company for the Financial Year 2025-26 which inter-alia includes: 1. Notice of the 74th Annual General Meeting of the Company scheduled to be held on Wednesday, August 26, 2026 at 11:00 A.M. (IST) through Video Conferencing/Other Audio Visual Means. 2. Audited Financial Statements (Both Standalone & Consolidated) 3. Directors’ Report 4. Corporate Governance Report 5. Management Discussion & Analysis Report The said Integrated Annual Report is being e-mailed to the Members of the Company, whose e-mail ids are registered with the Company/Registrar & Transfer Agent/Depositories. An Inland letter providing the weblink for accessing the Integrated Annual Report is also being sent to those Members whose e-mail ids are not registered with the Company/Registrar & Transfer Agent/Depositories. The Notice of the Meeting & the Integrated Annual Report are hosted on the website of the Company at www.hindustanpetroleum.com and also on the website of the e-voting Agency, M/s. National Securities Depository Limited at www.evoting.nsdl.com. This is for your information and records. Thanking you, Very truly yours, Rakesh Kumar Singh Company Secretary Encl: a/a 2025-26 Hindustan Petroleum Corporation Limited Integrated Annual Report 2025-26 Reimagining Sashakt Contents Company Overview Capitals that Drive Our Financial Statements 2 About the Report Value Creation Consolidated 4 Performance Highlights 58 Financial Capital 360 Independent Auditors’ Report 6 HPCL at a Glance 64 Manufactured Capital 372 Consolidated Balance Sheet 14 Chairman’s Message 84 Intellectual Capital 373 Consolidated Statement of Profit and Loss 92 Human Capital 374 Consolidated Statement of 106 Social & Relationship Changes in Equity Capital 376 Consolidated Statement of 120 Natural Capital Cash Flows 377 Notes to the Consolidated Financial 130 Awards and Recognition Statements Statutory Reports 467 Financial Details of Subsidiaries/ 132 Notice of 74th Annual Associate/Joint Venture Companies General Meeting 470 C&AG’s Comments 154 Performance Profile Governance 472 Human Resource Accounting 160 Directors’ Report 20 Leading with Purpose 473 Joint Venture Companies and Performance 204 Corporate Governance Report 23 Board Demographics 228 Management Discussion & Analysis Report 24 Senior Management Team Financial Statements 36 Governance Framework Standalone 256 Independent Auditors’ Report Our Value Creation Framework 272 Standalone Balance Sheet 40 Value Creation Model 273 Standalone Statement of Profit and Loss 42 Stakeholder Engagement 274 Standalone Statement of 48 Materiality Assessment Changes in Equity 54 Risk Management 276 Standalone Statement of Cash Flows 277 Notes to the Standalone Financial Statements 359 C&AG’s Comments Visit our website www.hindustanpetroleum.com to explore the world of HPCL The vision of a Sashakt Bharat is being redefined. As geopolitical shifts, supply chain disruptions, technological breakthroughs and evolving energy dynamics continue to reshape the global landscape, national strength can no longer be measured solely by economic growth or resource availability. It is increasingly shaped by resilience, adaptability and the capability to anticipate change. As India advances towards its long-term development ambitions, the need is not merely to build a stronger nation, but to reimagine what strength itself means in an era of unprecedented transformation. For India, this reimagined vision lies in building resilient infrastructure, securing critical resources, fostering innovation, accelerating industrial capabilities and building institutions that can thrive amid uncertainty. The aim is enhancing self-reliance while remaining globally connected, expanding opportunities while safeguarding stability, and shaping the foundations necessary to support the aspirations of a rapidly growing economy and society. Reimagining Sashakt Against this backdrop, Hindustan Petroleum Corporation Limited (HPCL) continues to play a pivotal role in enabling national progress. As the energy landscape undergoes significant change, the Company is strengthening its core business, expanding its capabilities and pursuing new avenues of growth to enhance long-term competitiveness. Through investments in capacity, diversification, technology and operational excellence, HPCL is preparing itself to address emerging opportunities while contributing to India’s evolving development priorities. The theme, “Reimagining Sashakt Bharat” reflects this broader vision of nation-building. It embodies a commitment to looking beyond conventional definitions of growth and embracing new possibilities that strengthen economic resilience, energy preparedness and future readiness. As India embarks on its next phase of development,, HPCL remains focused on supporting a nation that is not only stronger today, but better equipped for the opportunities and complexities of the future. ABOUT THE REPORT This Integrated Annual Report marks Hindustan Petroleum Corporation Limited’s (HPCL) third Integrated Report and presents a holistic overview of the company’s strategy, operational performance and value creation journey during FY 2025–26. The Report highlights how HPCL continues to strengthen its core businesses while advancing towards a more resilient, diversified and future-ready energy portfolio in a rapidly evolving global energy landscape. It provides insights into HPCL’s approach towards sustainable growth, operational excellence, stakeholder engagement and long-term value creation across financial and non-financial capitals. The statutory and financial information presented in this Report has been prepared in accordance with the applicable provisions of the Companies Act, 2013 and the rules framed thereunder, the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and the applicable Secretarial Standards. Reporting Approach and Framework Reporting Period This Report has been prepared in alignment with the principles April 1, 2025 March 31, 2026 of the Integrated Reporting (<IR>) Framework issued by the IFRS Foundation. The Report also draws reference from globally Reporting Boundary recognised sustainability and ESG reporting frameworks and Unless otherwise stated, the disclosures and standards, including: information presented in this Integrated Annual Report pertain to HPCL on a standalone basis and Global Reporting Initiative (GRI) include operations across key business segments Standards and locations, including: • HPCL Refineries at Mumbai and Visakhapatnam Securities and Exchange Board of India • Strategic Business Units (SBUs) under Marketing (SEBI) – Business Responsibility and • Corporate Headquarters and Marketing Sustainability Reporting (BRSR) framework Headquarters, HP Green R&D Centre, Information Systems Centre – Hyderabad, Management Sustainability Accounting Standards Development Institute – Nigdi and HP Technical Board (SASB) Standards Institute, Talegaon. International Sustainability Accounting Standards Board (ISSB) Standards International Petroleum Industry Environmental Conservation Association (IPIECA) guidance United Nations Sustainable Development Goals (UN SDGs) India’s Nationally Determined Contributions The Report covers operational, financial and sustainability-related information from businesses and func [Showing first 8,000 characters — download PDF for full document]